The Romney Rule: 14 Percent Tax Rate For Multi-Millionaires

Riffing off a Citizens for Tax Justice analysis showing that Mitt Romney — whose net worth is as high as $250 million — paid only a 14 percent tax rate in 2010, Priorities USA Action has released a new ad calling for repeal of the “Romney rule.” “The Romney Rule is simple: Mitt Romney thinks that millionaires like him are entitled to pay a lower rate of taxes than teachers, cops and construction workers,” said Bill Burton, Senior Strategist for Priorities USA Action. Watch it:

Romney doesn’t support the Obama administration’s “Buffett rule,” which is aimed at ensuring that millionaires can’t pay lower taxes than middle-class workers. Instead, Romney derided it as “class warfare.” Romney has, so far, not released a full tax return, even though he is very fond of demanding that his opponents do so.